Cash Advance

If you’re a retailer wanting to access finance to grow your business, without the hassle of applying for a bank loan, then CASH ADVANCE from Sureswipe may assist you.

Cash Advance is a business loan that’s tailored to your growth needs, giving you access to cash when you need it the most.

You can use Cash Advance as working capital to fund much-needed store upgrades, or purchase unique inventory items, or get that delivery vehicle you need to shift your business into a higher gear. So, why waste time filling in reams of application documents to access cash when you can easily apply for a Cash Advancetoday.

What is a Business Loan?

Cash Advance is not a traditional loan, it is a business loan – a factoring product that takes future retail sales into account. Consider it a lump sum cash payment to you, to be paid back at a pre-determined rate of time based on a ratio of your future card sales.

With a Cash Advance from Sureswipe, your business gains access to cash to be paid off from your future card swipes at a fixed rate or variable daily rate, depending on your particular needs.

The Cash Advance application process is quick and easy – money can be in your account in as little as 10 working days. Because these funds can be used to grow your business how you see fit, you won’t be liable for hidden costs or penalties.

Who is Cash Advance Best Suited to?

Independent Retailers: Already proving a saving grace for numerous Sureswipe retail clients, Cash Advance can help independent retailers gain access to money in a quick and easy way in tough economic cycles – particularly when banks aren’t as forthcoming with finance.

Restaurant Owners: If you want to buy new furniture to improve the look and feel of your establishment or if you’ve come across high-quality kitchen stock at an attractive price, you can use Cash Advance to fund your needs.

Health & Beauty Providers: If you run a beauty salon or even if you’re a chiropractor or physiotherapist, you can unlock a world of revenue growth potential by investing in new technology. Technology costs often come in lump sums, and you can use Cash Advance to fund much-needed tech.

Franchisors & Franchisees: The franchise landscape is becoming increasingly competitive as more local brands take to the scene, and established international brands turn to SA to grow revenue. You need to spend cash on upgrades to remain relevant, and a Cash Advance can help you make the changes you need to make now, instead of later.

Potential Cash Advance Use Cases

• Finance for Refurbishments You can use Cash Advance to make upgrades to your outlet, such as décor revamps or security upgrades.

• Working Capital You can also fund stock. If a supplier has an appealing, time-sensitive offer on bulk goods, you can use Cash Advance instead of raiding your working capital.

• Growth Finance If business is booming at your original outlet and you want to emulate this success elsewhere, you can leverage Cash Advance to fund your next store. Pay your lease deposit, use it for store-fitting, or buy your first batch of stock.

• One-off Ventures Let’s say you own a restaurant and one of your wine merchants calls to say they’ve got a batch of premium, export-quality vino for you at a price you will never see again. You know you can sell this wine at a great margin, but your current cash flow doesn’t allow for the purchase, Cash Advance can provide the bridging finance.

The Benefits of Cash Advance

Receiving a traditional loan from a bank in today’s economic environment can prove challenging for small, medium, and even large businesses. To qualify for a bank loan, company owners need to meet rigorous requirements, including:

Submission of numerous company documents

Inclusion of personal financial statements

Projections and business plans

Proof of tax return compliance.

Many business owners navigate all of this red tape, but only a small percentage of bank loans are actually approved. Banks require asset security against a loan and because their loans are paid back in fixed monthly lump sums, there’s not much flexibility for you during those tougher revenue cycles.

Sureswipe’s Cash Advance solution offers a simple application process with a short initial assessment questionnaire in which your suitability and eligible funding amount will be assessed immediately.

Your Cash Advance can be approved and paid to you in as little as 10 days and you are free to spend this money on your business in any way that you think will help you grow revenue.

There are no hidden costs or penalties involved when it comes to Cash Advance, and no personal financial insurance required for you to take on the loan.

How Cash Advance Works

We know how challenging it is to run a business, particularly when it comes to cash flow and we provide you with a way to fund your business’s own growth. We simply take a fixed or variable percentage of all future card transactions until the agreed repayment value is reached, so you can concentrate on growing sales instead of whether or not you can pay back a daily fixed debit order.

Cash Advance from Sureswipe is tailored to the specific needs of your business and all costs associated with the facility are made fully transparent – to be agreed upon jointly upfront.

The Cash Advance amount you qualify for is determined by your business’s previous six-month average card turnover (swipes). We use this data to pinpoint the exact amount of cash that you qualify for.

Once this calculation is complete, you can assess your tailor-made cash solution and agree on the total amount to be repaid – based on a fixed or variable percentage of your daily card turnover.

Cash Advance funds are paid into your bank account for the business to use in any way to grow revenue.

Instead of a monthly loan repayment premium like a bank loan, over each trading day you’ll pay back the Cash Advance at the agreed percentage until the full amount is settled.

4 Steps to Access Your Cash Advance

You Submit Your Application Sureswipe’s consultants will assist you in applying for Cash Advance every step of the way. Complete your application form, submit it together with your FICA documents and assess whether you qualify for cash.

We Process Your Application Our team of experts crunch your revenue figures and application information to ascertain acceptable repayment amounts that won’t place any strain on your day-to-day cash flow.

You’ll Have Feedback Within 5 Working Days Once we’ve informed you that you’ve qualified for a Cash Advance, and you agree to the repayment terms that have been customised for you, you can expect the cash to be in your account within 5 working days of application approval.

We Deposit Money in Your Bank Account Once the money has cleared in your bank account, you can go ahead and make those purchases you’ve been holding back on. Remember, you can use this money as you see fit, and we do not hold you liable for any penalties based on how you spend your Cash Advance.

Why Choose Cash Advance from Sureswipe?

Sureswipe is one of South Africa’s leading independent merchant solutions providers, boasting a national footprint and class-leading technical support. We service more than 7000 businesses around South Africa, helping them to grow their revenues with cost-effective card payment devices, gift and loyalty programmes and access to finance.

The Benefits of Choosing a Sureswipe Cash Advance Include:

Access to cash in less than 10 days

We don’t require unreasonable financial securities or guarantees

There’s no fixed payback period

You can qualify for cash up-front, based on your 6-month card turnover

Payback is linked to your card machine turnover, so the busier your business gets, the faster you’ll pay back your Cash Advance.

“I have made use of Sureswipe’s Cash Advance offer and it was the quickest and easiest loan that I have ever applied for. Because of Sureswipe’s prompt service, the application was hassle-free and the whole advance was explained to me in detail. It’s a quick and easy option if you need to boost your cash flow and its structured re-payment plan ensures I can continue with my day-to-day business activities without having to worry about paying off a huge debit order at the end of each month.”

Cash Advance Application Requirements

We’ll get to work to ensure the amount you qualify for is attainable based on the information you’ve submitted.

Once we’ve determined the amount you qualify for, we’ll get in touch again so we can agree on the repayment terms. You can receive up to 100% of your card sales in your bank account and pay-back will be based on a fixed or variable percentage determined by your daily card turnover.

Once you pay back your Cash Advance by at least 60%, you’ll become eligible for further Cash Advances to meet your business’s growth aspirations.

It is important to bear in mind that income tax is still applicable on any card sales made as usual.

Some of the documents required for a Cash Advance from Sureswipe include:

A completed Sureswipe application form

Latest 3-months bank statements

Latest 6-months card swipe statements

The business owner’s identity document (ID)

Your CIPC registration documents

Your lease agreement or rental statement

Financing and working capital is now easier to unlock than ever before, and accessible when you need, with Cash Advance from Sureswipe.

How do I apply for a Cash Advance?

Access Cash Advance now. Contact Sureswipe on 0860 200 111 or fill in your details and we’ll get back to you in the next hour.

FAQs

How quickly can I access the Cash Advance funds once I’ve been notified that I qualify?You can have access to money in your bank account to grow your business within 5 to 10 working days depending on your particular application circumstances.

How long is the Cash Advance repayment term?Repayment term is dependent on how much revenue you’re able to generate on a daily basis. If you generate R1 000 a day, we’ll take a small percentage of these daily revenue takings to settle the Cash Advance as quickly as possible.

What can my Cash Advance funds be spent on?We don’t give you any restrictions when it comes to how you spend your Cash Advance. As the business owner, you know exactly what the strengths and weaknesses of your business are, so it’s up to you to allocate funds appropriately.

What is the maximum amount I can qualify for?Because businesses generate revenue differently from each other, every approved Cash Advance amount is tailored to a particular business. The amount of funding you can unlock depends on your previous six-month card turnover figures.

How do I apply for a Cash Advance?To access a Cash Advance today, contact Sureswipe on0860 200 111 or fill in your details and we’ll get back to you in the next hour.

“I made use of the Sureswipe Advance offer. It was the quickest and easiest loan that I have ever applied for! With Sureswipe’s prompt service, the application was hassle free and the whole advance was explained to me in detail. A quick and easy option if you need to boost your cash flow in an instant. Sureswipe structured the re-payment option in such a way that I can continue with my day to day business without having to worry about paying off a huge amount at the end of each month. Thank you so much for a great offer and wonderful service!”